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Baker signs $47.6B annual budget – Boston News, Weather, Sports – Boston, Massachusetts

Boston, Massachusetts 2021-07-16 16:20:52 –

Governor Charlie Baker signed a $ 47.6 billion 2022 fiscal year budget on Friday afternoon, and his office delayed the implementation of the charity donation tax deduction approved by voters in 2000 with total spending and an external section of 790. Announced that it will refuse $ 10,000.

State legislators unanimously passed a $ 48.1 billion spending bill on July 9, not including extensive tax increases and withdrawing from the state’s “rainy day” stabilization fund, unlike previous versions of the budget. Approved Senate transactions that are not issued. A much higher-than-expected surge in tax collection allowed budget negotiators to cancel a planned $ 1.5 billion withdrawal.

In a message to lawmakers, Baker said the state “is currently at high risk of economic activity being intensified by unsustainable levels of federal spending, and as federal emergency spending is phased out. We need to continue to pay attention to the risk that tax revenue growth could slow. ” “

“Reflecting this mix of confidence and attention, the legislature will secure $ 600 million ($ 350 million and $ 250 million, respectively) in this budget for future education and pension costs. Proposed, “he wrote. “We commend the instinct of using unexpected returns for future debt, but reduce risk by making these transfers from the 2021 fiscal year (FY21) surplus rather than the expected future surplus. I would like to pay tribute to the achievement of the same result. “

In addition to the veto, Baker returned 25 modified policy sections. He said he had approved about $ 90 million in the allotted funds.

(Copyright (c) 2021 State Legislature Building Communications Company.

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Baker signs $47.6B annual budget – Boston News, Weather, Sports Source link Baker signs $47.6B annual budget – Boston News, Weather, Sports

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